Saturday, January 20, 2018

Nobel Prize-Winning Economist: Bitcoin Is Likely to 'Totally Collapse and Be Forgotten'

Robert Shiller, a Nobel Prize-winning Yale economist, , says that he is mystified by the rise of Bitcoin—but ultimately regards the cryptocurrency as a speculative bubble that is likely to burst, reports Time magazine.

Shiller, during a CNBC interview, compared the rise in Bitcoin to “Tulipmania.”

Shiller said on CNBC, Bitcoin “might totally collapse and be forgotten and I think that’s a good likely outcome, but it could linger on for a good long time, it could be here in 100 years.”